Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
Click here to enter my free $119.13 giveaway for a chance to win 5% of My Personal Finance Journey blog income and give another 5% to a charity of your choosing! Deadline to enter is August 31st, 2012.
The theme for this week’s carnival is a listing of several interesting financial statistics of the Olympics since the summer games are currently going on in London! I hope you enjoy the posts and that you can stop by My Personal Finance Journey on my non-carnival days as well!
Listed below are this week’s top 5 editor’s picks. Congrats to the five winners! Some truly great articles here!
1. Our #1 pick of this week is by Lazy Man from Lazy Man and Money, who presents Reader Email: Can You Help Me with a Small Business?, and says, “First things first, congrats on taking a steps to try to reach financial freedom. That’s huge. Second, I should start off by saying that I’m not the world’s leading expert in any of this stuff, so I hope the reader will get a lot of other opinions. I’m also hoping other readers can share their thoughts and resources as well. Here are my thoughts on some of Anya’s business ideas:”
Jacob’s Comments - This is a really cool post in response to an email that Lazy Man received from a reader requesting some guidance on entrepreneurship. I really like posts like these where readers of PF blogs get involved with the discussion!
2. The #2 pick of this week is by Rob from Dough Roller, who presents What Happens To Your Credit After You Divorce?, and says, “In addition to the emotional and familial challenges, divorce can also affect your finances.”
Jacob’s Comments – This post does a good job shedding some light on a subject that people do not often think/research about until they are actually going through a divorce – who is obligated to pay off loans that were obtained during a marriage. Several of the specific topics discussed include home loans, credit card debt, and car loans.
3. Our #3 pick for this week’s Carnival is by Mrs PoP from Planting our Pennies, who presents How We Decided To Self Insure, and says, “Faced with an increase of $2K on their homeowner’s insurance premium, the PoPs go through the risks and rewards of self insuring part of their property. “
Jacob’s Comments – To me, it’s very fascinating to learn about exclusion/inclusion clauses in insurance contracts. This posts shares a first hand account of deciding how to insure a screened-in pool enclosure on the authors’ property. Pretty interesting story!
Jacob’s Comments – This post shares some solid advice to advancing one’s career. In the working world, it can be easy to lose sight of your strategic career plan because of the hustle and bustle of everyday tasks. So, this post serves as a good reminder to always make sure you are making forward progress in your job.
Jacob’s Comments - As the title of the indicates, this post shares several fun ways that the Olympics can remind us of good financial planning/management. My favorite point was the international diversification one!
And, listed below are the rest of this week’s great article submissions.
Justin from Saving Without a Budget presents Take Control of Your Financial Life with These Simple Steps, and says, “Simple steps for improving your financial situation.”
CF from The Outlier Model presents What to buy at the dollar store, and says, “Buying household items at the dollar store can save you a lot of money – but what is actually worth buying? Read on to find out!”
NCN from No Credit Needed presents Mortgage Refinance Is Almost Here, and says, “My wife and I are going to refinance our mortgage – with our current lender. Here are the details.”
Roshawn Watson from Watson Inc presents The Price of Eliminating Failure, and says, “The struggle to pull (ourselves) through a crisis, to come to terms on a deep level with (our) own shortcomings, and to labor to overcome them — is exactly…” what is needed to achieve uncommon success. Here are some reasons you should not be afraid of failure.”
Edward Antrobus from Edward Antrobus presents How I Spent Less than $200 on My Wedding, and says, “My wedding cost less than $200, a far cry from the $27,000 average wedding costs. Here’s how I did it.”
Eric J. Nisall from DollarVersity presents Mortgage Escrow AKA Banks Stealing Your Money, and says, “Escrow accounts attached to mortgages may seem like a good idea, but they are really costing you money!”
Sean Smarty from Grow Money presents 4 Tips for Saving Money in a Renter’s World.
Elizabeth from Women’s Money Week presents How and Why to Find a Second Job, and says, “A second job offers more than just a few dollars an hour – there are great discounts in addition to having the bonus cash.”
Lance from Money Life & More presents What Would You Do?: I Won One Million Dollars!!!, and says, “Two words. I WISH! But it is fun to dream so let’s continue with this theoretical situation… We have to make assumptions so everyone is on the same page when they share what they will do! You just won One Million United States Dollars so convert to your own currency if necessary to find out its buying power. The taxes have already been paid so you can spend every penny of it if you wish. You are in the financial situation you are currently in, not in my financial position.”
Paula @ Afford Anything from Afford Anything presents Renovating the Rental Property, and says, “When renovating rental property, assume expenses will be higher and income will be lower. Here’s a true story about that … “
Glen Craig from Free From Broke presents Will Divorce Make You Happier? The Emotional and Financial Implications of Divorce, and says, “It’s common for a couple going through a rough patch to think that divorce will make them happier. But the truth is that’s not always the case.
PK from Don’t Quit Your Day Job… presents Real Personal Income: New Heights, and says, “At least one measure of Economic strength in the United States has fully recovered – Real Personal Income. Sure, a fair amount of it is form transfer payments – but don’t let that get in the way of a good chart!”
Mike from Experiglot presents 10 Ways to Save Money Right Now, and says, “We help you come up with different ways that you can save more money right now.”
Mike from The Financial Blogger presents Should You Quit Your Job If You Hate it? The Quick Guide to Quitting, and says, “How you can finally quit your job.”
Robert from The College Investor presents How Europe Affects Your Portfolio (and What to Do about It), and says, “Stock market corrections are not recessions, international exposure doesn’t just come from an international ETF or mutual fund, and in time, the holdings that you have will become more and more heavily weighted towards international economies. So while Europe grabs all the headlines, something productive might as well come of it.”
Nicole from Nicole and Maggie: Grumpy Rumblings of the Half Tenured presents Fixing little annoyances, and says, “Sometimes there are little things that you can do to greatly improve your quality of life, just by fixing tiny annoyances. These may not cost a lot of money or even time, but just need to get done. The grumpy readership chimes in with examples.”
Bob from ChristianPF presents How to pick the right realtor, and says, “Do you have time to market your home, do you have the knowledge to accurately price your home, figure out all of the paperwork required with listing and closing, and stage your home to make it ready for showings? Much of this is accomplished by a quality realtor for those people who don’t have the time or the knowledge to do it at a professional level…”
Mr. Money from Smart on Money presents What Things Motivate Your Spending?, and says, “Examining your money motivations can help you figure out where you could change your spending, and maybe start using your resources for things that matter to you, rather than wasting money and racking up debt for things you don’t actually need or even want.”
Peter from Bible Money Matters presents Lending Club Returns at 12.02%: Lending Club Has Issued over 775 Million In Loans to Date, and says, “My Lending Club account has continued to show good returns despite the fact that this month I had another loan go late. My net annualized return is still above 12% (which was my goal to reach a year or so ago).”
Echo from Boomer & Echo presents The Ins and Outs of No Medical Exam Life Insurance, and says, “No medical exam life insurance has higher premiums than a standard life insurance policy, but may actually be less expensive for someone who’s likely to be rated. The tradeoff is in the benefits.”
Bret from Hope to Prosper presents How Large Corporations Skirt Taxes, and says, “Although America has some of the highest corporate income tax rates in the world, the amount some large corporations actually pay is embarrassingly small.”
Money Thinker from Money Thinking presents Considering Trade School.
Karl Marrion from WiseStockBuyer presents How to Invest in Your Children’s Trust Fund, and says, “Help your children get ahead right from the start by investing in a trust fund for them.”
eemusings from Musings of an Abstract Aucklander presents What to do if you’ve been burgled plus things to check RIGHT NOW.
Jeff Rose from Good Financial Cents presents It’s Time For Another Movement – Life Insurance Style, and says, “The Life Insurance Movement is coming. Help bring awareness to a much needed cause.”
Eric from Narrow Bridge Finance presents How Should a Young Person Get Started with Investing, and says, “Your first job. Such a big milestone. For the first time ever, you are financially independent. You have moved on from being a broke college student to a successful young professional. Don’t get too comfy with that big paycheck, though, it is time to start investing.”
Adam Hagerman from Walking To Wealth presents 5 Awesome Techniques to Energize Your Savings Today, and says, “Why do Americans find is so hard to save money? Use these 5 awesome techniques to ramp up your savings today!”
FMF from Free Money Finance presents How to Get Great Deals on Outlet Purchases, and says, “Products sold in outlets may not be of the same quality as those sold in retail stores, return policies may be different and you may have to spend extra gas money getting there. Still, outlet prices are often cheaper than retail, and you may score an even better deal if you have coupons.”
Dan Meyers from Your Life Their Life presents Two emotions that make us broke, and says, “There are two main emotions that cause us to get into debt over any others.”
Sean from One Smart Dollar presents Beginner’s Guide to Finance – Approaching Retirement, and says, “Knowing what to do with your money as you approach and enter retirement is extremely important. It can mean the difference between living comfortable and returning to the workforce.”
Miss T. from Prairie Eco Thrifter presents 7 Ways to Save Money When Dining Out, and says, “If you like to eat out a lot, and you would like to save some money, here are few tips to save when dining out.”
Earth and Money from Earth and Money presents The Value of the Corporate Social Responsibility Label, and says, “Corporate social responsibility is the integration of social, environmental and economic concerns into the values of a company. But is a company that calls itself socially responsible actually socially responsible?”
Savvy Scot from Savvy Scot presents How Much is Enough?, and says, “Savvy Scot discusses the reasons why we are never satisfied – why do we always want more? If you invest wisely and make the right moves, you can retire at 50!”
J.P. from Novel Investor presents What Is A REIT?, and says, “REITs, for the most part, are traded just like stocks. But there are some unique differences every investor should be aware of before buying.”
Squeezer from Personal Finance Success presents How to stretch your dollars when you are unemployed, and says, “With the Bureau of Labor Statistics pinning unemployment at 8.2%, many individuals are out of work and looking for a new job. To combat this, one should trim his or her budget to extend any savings as long as possible.”
Well, that concludes this week’s edition of the Carnival of Personal Finance! To all of this week’s participants – it was an honor to be able to read and get involved with such high quality articles! Please remember to link back to this post if your article was included here and to promote via social media when possible.
Next week’s carnival (#374) is scheduled to take place on August 13th, 2012. Be sure to submit your articles for next week’s edition, using the following handy submission form.
Also, if you’re interested in hosting a future edition of the Carnival of Personal Finance, you can apply using this form.
***Photo courtesy of http://www.texample.net/media/tikz/examples/PNG/the-olympic-rings.png